From GlobeNewswire: 2024-11-19 07:15:00

The stolen vehicle recovery market is expected to surpass USD 13.9 billion by 2032. Rising theft rates, driven by economic factors and organized crime, highlight the urgent need for advanced recovery solutions. The passenger vehicle segment dominates the market with over 60% share, driven by the adoption of GPS and cellular tracking technologies.

North America, led by the United States, is poised to exceed USD 6 billion by 2032 in the stolen vehicle recovery market. Insurers offering premium discounts for vehicles with recovery systems incentivize adoption. OEM-installed systems, representing 75% of the market, integrate advanced GPS and cellular technology for real-time tracking and data transmission.

The stolen vehicle recovery market is influenced by increasing theft rates and advancements in GPS technology. Government regulations and insurance policies also drive market growth. The industry faces challenges such as privacy concerns and cross-border recovery complications. The market offers growth potential with the integration of AI-enhanced tracking, predictive analytics, and real-time tracking systems.



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